Skip to main content

Posts

Showing posts from July, 2005

INVESTORS AND WHAT YOU NEED TO KNOW

This has been a wild summer - thank goodness that Albuquerque is coming in on the tail end of the investor frenzy, seeing Phoenix and Las Vegas as examples. Here's what investors need to know. The wild appreciation that you saw in those two cities which led to builders actually offering money to buyers to not close, and being able to sell for way over what the first phase pricing experienced WILL NOT HAPPEN HERE. Rents are declining because there are too many investment properties being purchased in blocks of neighborhoods. If you are going to purchase an investment property, buy one in an area where there are many owner occupied properties. Do not buy blocks of homes in one neighborhood. This is not a good thing. Investors have been blocked out of purchasing in new home communities - buy resale and buy a quality home. Do not expect to get a positive cash flow. Do not try to say that you are "moving here with a mortgage company" or "coming to town with a ne